Uber is purchasing food delivery service Postmates for $2.65 billion

Uber is acquiring food delivery service Postmates as it seeks to bolster UberEats after missing out on GrubHub.

The deal, which is expected to close by the start of 2021, will see Uber purchase Postmates for $2.65 billion in stock.

Bastian Lehmann, Co-Founder and CEO of Postmates, said:

“Over the past eight years we have been focused on a single mission: enable anyone to have anything delivered to them on-demand. Joining forces with Uber will continue that...